Guggenheim Capital LLC Cuts Stake in Liberty Energy Inc. (NYSE:LBRT)

Guggenheim Capital LLC lowered its position in Liberty Energy Inc. (NYSE:LBRT - Free Report) by 92.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,571 shares of the company's stock after selling 307,289 shares during the period. Guggenheim Capital LLC's holdings in Liberty Energy were worth $509,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LBRT. Blue Trust Inc. boosted its stake in Liberty Energy by 604.9% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the company's stock valued at $47,000 after acquiring an additional 2,111 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Liberty Energy by 257.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,197 shares of the company's stock worth $47,000 after purchasing an additional 1,583 shares during the last quarter. Spire Wealth Management bought a new stake in Liberty Energy in the fourth quarter valued at about $60,000. Smartleaf Asset Management LLC boosted its holdings in Liberty Energy by 176.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,423 shares of the company's stock worth $67,000 after buying an additional 2,184 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Liberty Energy in the 4th quarter valued at about $99,000. Institutional investors own 98.22% of the company's stock.

Insider Buying and Selling

In related news, CFO Michael Stock sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $17.94, for a total transaction of $179,400.00. Following the sale, the chief financial officer now owns 717,292 shares of the company's stock, valued at approximately $12,868,218.48. This represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

Liberty Energy Stock Up 3.1 %

LBRT traded up $0.36 during trading on Thursday, hitting $11.86. 801,195 shares of the company's stock were exchanged, compared to its average volume of 2,735,933. The stock has a market cap of $1.92 billion, a P/E ratio of 6.36 and a beta of 1.18. The business's 50 day moving average is $13.79 and its two-hundred day moving average is $17.12. Liberty Energy Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $24.75. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 0.20.

Liberty Energy (NYSE:LBRT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $977.46 million during the quarter, compared to the consensus estimate of $960.64 million. Liberty Energy had a return on equity of 14.28% and a net margin of 7.32%. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts expect that Liberty Energy Inc. will post 0.58 earnings per share for the current fiscal year.

Liberty Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.32 annualized dividend and a dividend yield of 2.70%. Liberty Energy's payout ratio is currently 21.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LBRT shares. Citigroup lowered their price objective on shares of Liberty Energy from $16.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group lowered their target price on Liberty Energy from $19.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Cowen reiterated a "hold" rating on shares of Liberty Energy in a report on Monday, April 21st. Wells Fargo & Company reissued an "equal weight" rating and set a $11.00 price objective (down previously from $20.00) on shares of Liberty Energy in a research report on Tuesday, April 8th. Finally, Seaport Res Ptn raised shares of Liberty Energy from a "hold" rating to a "strong-buy" rating in a research report on Sunday, January 5th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.05.

About Liberty Energy

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.